Declining Trends in DR Congo’s Mining Exports Raise Concerns for Government Revenue
The overall trend of mining products exported from the Democratic Republic of Congo (DRC) has been downward during the period from October 16 to 21, 2023, on international markets. According to data provided by the National Price Commission, a division of the DRC’s Ministry of Foreign Trade, tantalum is expected to experience a significant price drop of approximately 23%, trading at $227 per kg this week compared to $296 per kg the previous week.
During the period from October 16 to 21, 2023, several other mining products exported from the DRC, including zinc, tin, gold, silver, and tantalum, are expected to decrease in price on international markets.
- Zinc prices are anticipated to fall this week to $2,455 per ton, down from $2,564 the previous week, representing a negative price difference of -4.26%.
- Tin is expected to trade at $24,234 per ton, a decrease from $24,611, indicating a price drop of 368.00%.
- Gold is projected to be at $59.53 per gram this week, down from $62.20 the previous week, marking a price decrease of 2.67%.
- Silver is estimated to be traded at $0.70 per gram, a decline from $0.72 the previous week, indicating a decrease of 2.77%.
According to the Congolese Ministry of Foreign Trade, only cobalt is expected to remain stable during the analyzed period, priced at $32,731.00 per ton.
This trajectory of DRC’s exported mining products is not favorable for the Congolese government, which relies heavily on revenue generated from the sale of these minerals.
